Design and implementation of the ERM framework

In order to realise its risk management objectives, PNO Media uses the Enterprise Risk Management framework (ERM framework). The ERM framework is in line with the models and methodologies (COSO, FIRM and the Information Security Code) accepted by the market and regulators. Risk management at PNO Media consists of the following activities:

• Indentifying risks on both strategic and process levels.
• Identifying the effectiveness of existing control measures, so that remaining risk can be assessed.
• Relating of remaining risks to acceptance standards (the so-called risk appetite) of the fund.
• Designing and implementing additional control measures for risks that are not accepted.
• Monitoring the implementation of additional control measures and monitoring of and reporting on risk profile.

At least once a year, PNO Media identifies the risks that constitute a potential threat to both reaching our objectives and the effectiveness of the control measures related to this. The risks are classed on the basis of an assessment of the risk materialising, as well as the impact thereof when it does. The risk appetite of PNO Media is used as a guide therein. The risk appetite is the level of risk acceptance by the fund in relation to realising its objectives. Risks are assessed on the basis of so-called self-assessments.

In order to realise its risk management objectives, PNO Media uses the Enterprise Risk Management framework (ERM framework). The ERM framework is in line with the models and methodologies (COSO, FIRM and the Information Security Code) accepted by the market and regulators. Risk management at PNO Media consists of the following activities:

• Indentifying risks on both strategic and process levels.
• Identifying the effectiveness of existing control measures, so that remaining risk can be assessed.
• Relating of remaining risks to acceptance standards (the so-called risk appetite) of the fund.
• Designing and implementing additional control measures for risks that are not accepted.
• Monitoring the implementation of additional control measures and monitoring of and reporting on risk profile.

At least once a year, PNO Media identifies the risks that constitute a potential threat to both reaching our objectives and the effectiveness of the control measures related to this. The risks are classed on the basis of an assessment of the risk materialising, as well as the impact thereof when it does. The risk appetite of PNO Media is used as a guide therein. The risk appetite is the level of risk acceptance by the fund in relation to realising its objectives. Risks are assessed on the basis of so-called self-assessments.